Staggering Rise In Childcare Costs Leave Parents Struggling

A new report also finds sending children to a full-time nursery costs £11,000 a year on average

Childcare costs in the UK have risen by £5 a week on average, and the average cost of sending a child to a full-time nursery is now a staggering £11,000.

A report, by the Daycare Trust and the Family and Parenting Institute, looked at costs over the past decade, showing they are soaring past the rate of inflation.

This is leaving parents struggling to pay what is akin to 'taking on a second mortgage', experts warn.

The typical cost of sending a child under the age of two to nursery has risen by 77 per cent since 2003 to reach £4.26 per hour, yet wages have remained the same.

Unsurprisingly London was the most expensive place, with average full-time nursery fees costing just under £14,000 a year - more than a private school education.

Costs for children aged two and over have increased at a rate of 6.6 per cent annually to around £104 a week for a part-time place, while costs for older children have soared by 9 per cent over the last year, with the average price of attending an after-school club reaching £50.

Anand Shukla, chief executive of Daycare Trust and the Family and Parenting Institute, said: 'The survey makes clear that, from a parent's perspective, costs are increasingly difficult to manage which is a finding that should concern us all.

'Families are being expected to pay more for their child's nursery place - an average of £14,000 per year in London - than the fees for many private schools - and this cannot continue.'

Have you noticed this rise in childcare costs? Tell us about your experiences in the comments below.

LATEST WORLD NEWS